Creative Destruction With Chinese Characteristics
China’s policy-driven constraints prevent the “destruction” part of the creative destruction process. Instead, they entrench overcapacity, deflation, and poor profitability. We are reluctant to chase the rally in Chinese stocks in absolute terms.
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BCA Research | Emerging Markets Strategy
Critical input for global and EM investors as it provides global macro investment themes as well as recommendations for EM equities, currencies, and fixed income.
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